Saturday, December 2, 2023

Venezuela and the US are the main destinations for confectionery exports

The confectionery sector expects exports to increase on the occasion of Halloween. According to Legiscomex, with analdex analysis, between January and August of this year, exports from the sector reached US$201 million, representing a decrease of 3.4% compared to the same period in 2022.

The main destination of these products is Venezuela, which has a 20% share of sales in the sector. The United States (17.6%), Ecuador (12.5%), and Chile (10.6%) followed. US exports reached US$35.4 million through August, 7.3% higher than the same period last year.

In the market itself, the National Foreign Trade Association, Analdex, has expectations for the growth of exports. “Although there are local brands already positioned in the United States with tradition and making the majority of sales, there are opportunities for Colombian brands to conquer certain market niches, thanks to the added value that is offered. Likewise, there are ethnic or Latin markets that are familiar with our national offer and can still be conquered,” said the president of Analdex, Javier Díaz.

The National Retail Federation of the United States predicts that this year Americans will spend US$3.6 billion on candy for the Halloween celebration, 16% more than in 2022.

Díaz explained that a large part of Colombia’s confectionery sales are concentrated on the east coast of the United States, so it is considered that opportunities on the west coast should be explored.

The union leader explained that Colombian companies prepare several months in advance for the growing demand for confectionery represented by the celebration of Halloween, not only in the United States but in other countries.

For Saúl Pineda, director of the EIA University Thinking Center, “the opportunity to reverse the negative growth of around 3.4% experienced in confectionery exports is obvious.”

Chocolates, sweets, candies and pills Chocolates and cocoa preparations, as well as other confectionery items (including white chocolate), are the products that are sold the most abroad. The main exporting departments are Valle del Cauca, Caldas, Antioquia, Bogotá, Cundinamarca, Atlántico, and Norte de Santander.

“This season highlights the extravagance that comes from the consumption of candies and chocolate and the capacity of 926 companies dedicated to the production of chocolate and confectionery in Colombia,” emphasized the executive director of the Andi Food Industry Chamber, Camilo Montes. He added that between September 2022 and August 2023, Colombian products will be sold in more than 106 countries, for a total of US$353.4 million. “Without a doubt, we actively participate in the celebration of Halloween, bringing flavor and joy to Colombia and the world,” he said.

According to Euromonitor, global confectionery sales are expected to reach US$270 billion by 2028.

World Nation News Desk
World Nation News Desk
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